Techzim

Zimbabwe and regional technology news and updates

advertisement
advertisement

RECHARGE

Nyaradzo logo


BancABC’s City Hopper has processed over US$10 mil in a year

BancABC today held a one-year anniversary celebration for its domestic remittance service City Hopper via Twitter Spaces. The talk was more of a victory lap and that isn’t to say it isn’t warranted. City Hopper has had an incredible year for a fledgling money transfer service. According to BancABC, they were able to move over […]


NMB is phasing out its *240# USSD in October

NMB Bank Zimbabwe has in a tweet announced that it is phasing out its old *240# USSD in favour of the closely numbered *241#. The bank is also doing away with the old NMB Banking app. pic.twitter.com/wj6yP3OFfQ — NMB Bank Zim (@NMBBankZim) September 17, 2021 Dear Valued Client, We advise that we will be phasing […]


FBC Bank internet banking platform is down

FBC Bank has, in a tweet, notified customers that its internet banking platform is down. Customer Notice: Internet Banking Platform Down. pic.twitter.com/JocSbAPDOK — FBC Holdings Limited (@FBCHoldings) September 17, 2021 Dear Valued Client, We regret to advise you that intermittent service is being experienced on our Internet Banking platform. Kindly bear with us as our […]


Here’s how much your bank charges for all ZWL$ account transactions & services

Following up on the article we posted on local currency swipe limits, we thought it would be interesting to compare all the major banks’ local (ZWL$) currency charges. The following is for the basic or entry-level personal accounts only. Charges are also for local currency accounts and where transactions are concerned the IMTT or 2% […]


You can now top up your ZINARA toll gate card via ZIPIT

With Intercity travel now open to everyone after the President announced that the country will be moving to a level 2 lockdown. The Zimbabwe National Road Administration (ZINARA) has rolled out ZIPIT recharges for their IceCash powered toll gate cards (aka Tolling Cards). This is a feature that, to be honest, should have been available […]


All Zim banks daily debit card swipe limits

Following FBC Bank‘s announcement that it has increased its daily swipe transaction limits. We thought it would be prudent to look up all the other banks and see how their limits stack up against one another. Here are the figures we got from the respective banks’ customer services representatives. Bank Individual Daily Swipe Limit (ZWL$) […]


Mthuli Ncube’s tour of Dubai crypto hub shows govt isn’t aware of local startups

Finance Minister Professor Mthuli Ncube yesterday put out a tweet saying he had visited the DMCC Crypto Centre in Dubai. If you have never heard the name DMCC before, the firm offers a number of services among them cryptographic blockchain, and distributed ledger technologies. I visited the DMCC CRYPTO CENTRE in Dubai, which is a […]


FBC Bank increases daily debit card swipe limits

FBC Bank has, in a tweet, announced that the daily limit for debit card swipe transactions has been increased. Good news: Swipe limits have been increased! Now you can swipe for much more with your local FBC debit cards. Go ahead and transact today!#YouMatterMost pic.twitter.com/IATwpWpasV — FBC Holdings Limited (@FBCHoldings) September 9, 2021 Old Limit […]


Full Text: ZSE Direct adds Odd Lot Board in a bid to lure individual investors

Last year the Zimbabwe Stock Exchange launched its own direct trading platform, ZSE Direct putting in competition with FINSEC’s C-Trade. Now a year later they are adding a new feature to their offering-Odd Lot Board. This may be their attempt to lure individual, casual and low-value investors. They have now set the minimum buy amount […]


Access Forex introduces Paytumi a remittance based investment service

Zimbabwe’s more understated remittance or money transfer service Access Forex, has announced the launch of a product that will allow those in the diaspora to invest back home. The service is called Paytumi and offers Zimbabweans living abroad direct access to products for building, farming, medical and other projects they may have in mind. At […]


Local software firm launches a core banking platform

Mugonat Systems Inc is a local software development and consultancy firm that provides enterprise software solutions, website services, mobile apps, e-commerce and chatbots. The company has announced that it has launched a core banking complement software called Cashlinq which it says was developed with the best technologies, security and international standards. The core banking complement […]


You can now collect Mukuru remittances at BancABC branches

BancABC has announced that you can now collect your Mukuru remittances at their branches nationwide. You can now collect your @mukurudotcom 💵 order at any @BancabcZW branch 🏦. Bring your National ID or Passport 🛂 and SMS received 📲 to collect you cash.💰 Collection is FREE! 😉 #Mukuru 💵#ATeam 😎 pic.twitter.com/sBWsjYobTw — BancABC Zimbabwe (@BancabcZW) […]


South African to launch a digital currency called the E-Rand, we have been having it

One of the most memorable ads from the last decade is, at least for me, the Vodacom “we have been having it” series of ads including this one. In them, an Id Amin inspired character expresses amazement that people are constantly praising (yep yep yeping) Vodacom’s features like custom ring tones and having up to […]


Zimnat partners with BancABC in their Gadziriro sign up drive

Recently I decided to have my own funeral policy cover for me and my family. For years, I am ashamed to say, I had been relying on my parents’ cover but the third wave of COVID-19 and my own personal health demons made me confront my own mortality and I decided to go on the […]


Socialite closes Gofundme campaign after it torched a storm on social media

Crowdsourcing is nothing new to Zimbabweans. Several famous fundraising pitches have been made over the years including one that raised close to $100 000 for Cyclone Idai victims. Medical appeals are also not uncommon with several cash-strapped Zimbabweans using the platform to try and raise medical fees for expensive medical procedures. The latest such medical […]


Want to know about Victoria Falls Exchange? Business Weekly is hosting a virtual panel discussion tomorrow

The Victoria Falls Exchange came about in the strangest possible way you can imagine. In case you have forgotten, it all started because the government, which keeps wanting to fix the exchange rate we use, did not like how people were relying on the so-called Old Mutual Implied Rate (OMIR). So they decided to remove […]


Monetary Policy Committee says Individuals can now transact up to US$50 per week via Bureau de Changes

These days the ZWL official rate is more or less stable and the government has also stopped rocking the boat with the rash policies like the infamous Statutory Instrument 127 of 2021. However, the Monetary Policy Committee which is responsible for crafting some of these policies is still very much in existence. Recently they met […]


The RBZ needs to scrap weekly and monthly limits for mobile money too

Yesterday there was a bit of a relief when Ecocash sent out an SMS announcing that transaction limits had been lifted from the paltry $5 000 ZWL per transaction up to a more acceptable $20 000. This was long overdue, the arbitrary limits were making life difficult for the bulk of transacting public out there […]


EcoCash transaction limits now ZWL20 000

The EcoCash transaction limits for all Payment services have been adjusted to ZW$20,000 per transaction up from the previous ZW$5,000 per transaction. This adjustment will be effective today, 25 August 2021 at 18:00hrs.


ZB Life is launching Enhanced Cash funeral plan

ZB Life today is launching Enhanced Cash funeral plan which supports both Zim Dollar and USD cash payouts. The additions to the Funeral Cash Plan includes: Memorial Cover offers a cash payout starting at ZWL50 000 to ZWL100 000 ZWL for beneficiaries and policy holder. Tomb stone & unveiling will offer a cash payout from […]


Full Text: Zimbabwe receives US$961 million from the IMF

The Zimbabwean government has officially announced that they have received almost a billion US dollars from the International Monetary Fund via the institution’s Special Drawing Rights (SDR). SDR refers to supplementary foreign exchange reserve assets that are maintained by the IMF and availed to member countries if they so choose. Zimbabwe will probably use the […]


InstaCash, a local app that allows you to lend & borrow through your contacts

The term “credit is king” is one that I have bandied about over the last year or so because as we wade through Zimbabwe’s never-ending economic struggles, lines of credit are valuable in order to make moves in this fast-moving digital age. Now, traditionally one would go to a bank or a microfinance institution to […]


Remittances up by 73% from the recorded figure this time last year!

Remittances look on course to breaking the US$1 billion and some change record that was set last year. According to the Reserve Bank of Zimbabwe’s (RBZ) Mid-Term Monetary Policy Statement, remittance figures are up by 73% at US$649 million from the US$374 million that was recorded over the same period last year. Inflows January to […]


RBZ to acquire a 15% stake in Zimswitch

The Reserve Bank of Zimbabwe (RBZ) today released the Mid Term Monetary Policy Statement which highlighted the events of the previous year and this one. In that statement, there was an interesting revelation. The RBZ has acquired or is set to acquire a 15% stake in the national payments switch, Zimswitch. “The Bank is proceeding […]


Flutterwave & PayPal waive international fees for African merchants

Flutterwave and PayPal are running a promotion aimed at encouraging African merchants to market their goods and services internationally. Under this promotion, Flutterwave merchants/users will be able to receive US$500 worth of receipts through PayPal for free. Normally, merchants are charged 4.4%+US$0.30 per transaction. Flutterwave has collaborated with PayPal to waive off charges on the […]


Zimswitch’s bulk payments solution ZEEPAY has resurfaced

In 2018, Zimswitch, at its Payments Conference announced that it would be bringing a bulk payment solution called ZEEPAY. The product builds off the immediate settlement services we all use by way of ZIPIT. So we can all get caught up here’s what Zimswitch’s ZEEPAY can do. ZEEPAY is a secure, cost effective and efficient […]


Netflix to pivot into games as it tries to beat saturation

I am sure you have had your fill of a priest and a rabbi walking into a bar jokes. Today I have something a little different. Have you heard the one where Netflix gets into mobile gaming, competes against Google’s Stadia and Nvidia’s GeForce? Well, it’s not a joke it’s real. Netflix has confirmed that […]


Eddie Cross: Zim should have a 5% transaction tax, halve PAYE & no company tax

I was joined yet again by Economist and former member of the Reserve Bank of Zimbabwe’s Monetary Policy Committee Eddie Cross to talk about financing a nation, tax collection and administration as well as electronic transactions You can play or download the podcast with the link below. Alternatively, you can download the podcast on WhatsApp […]


Econet Wireless Zimbabwe calls for early redemption of debentures

A few days ago Econet Wireless Zimbabwe (Econet) issued a notice to its debenture holders offering to redeem debentures it issued on 17 January 2017 early. This means instead of waiting for them to mature about three years from now, the holders of the debentures can have them redeemed now. The debentures have a market […]


How payment solutions are revolutionising WhatsApp and enhancing customer experience

The modern customer expects the process of engaging with a brand to be simple and easy. It is a long-accepted norm that the only way to achieve the level of service that delivers this convenience today is through digital channels. For this reason, organisations understand that they need to move with innovation in order to […]